Before meeting of august 17, 2023. At this time. Hey, just give me one second here. Get me organized. Im doing my survey. All right. Okay welcome, everyone. Thank you for all the participation on the board level and im madam secretary. Do you want to call the roll, please . Thank you, commissioner. Commissioner connor. Present mr. Thomas. Present. Present. Helfen. Present mr. Driscoll. Here mr. Gandhi. Present commissioner bridges and commissioner servais is not in attendance today. We do have a quorum right. Thank you. Can i ask you, madam secretary, to turn your volume up a little . Can you do that . Its sort of. Is that better . Better better. Item number two, communications. We welcome the publics participation during Public Comment periods. There will be an opportunity for general Public Comment at this meeting after closed session and there will be an opportunity to comment on each discussion or action item on the agenda. Each item each comment is limited to two minutes. Public c
And, the options action on amazon ahead of the busiest week in earnings. On the desk tonight, tim see your, karen finerman, and guy adami. Regionals dropping more than 12 . Earnings falling short of estimates. Regions drop rippling through the sector. The weakness coming as the tenyear continues to hover around 5 for the First Time Since 2007. That historic jump in yield contributes to Broader Market volatility. The vix closing up 21, up more than 12 this week. Markets closinging lower. As we get set up for the busiest week of earnings season, will rate fears continue to be the driver of the markets . Guy, what do you think . I think so. Kre, huge bounce off april lows. Think we got down to 38 and a half, trade up to 48ish. I think its going to give it all back and we go back to 34 1 2. Then does it hold, bounce, or is there something more nefarious . Good news is all companies are 3 of the weighting. Bad news is companies are all 3 of the weighting. Theyre all in the same bucket, and
This hour. These are modest declines. Dow down 71 points. S p futures off 11. Nasdaq down by 44. At this point, the dow is on track for its fourth negative week in the last five and that is because of the treasury yields. They have been pushing higher and higher. The tenyear yield is 4. 95 . In fact, it did cross that 5 line that we were watching. Hovering at 5 . Yesterday, just after 5 00 p. M. , the tenyear yield hit the 5 level briefly. The last time we hit that level was july of 2007. Yesterdays move cameafter fed chairman pojay powell spoke and kept the door open to more rate hikes. We have models for everything and formulas for everything. We have to be focused on what the economy is telling us. Even taking lags into account. What is it telling us . Does it feel like policy is too tight right now . I would have to say no sdp. We will talk about rates and more with Raphael Bostic. Until recently, bostic has said were done. Jay powell said yesterday at the Economic Club of new york
Public comment at this meeting after closed session. We have no closed session today. There is a opportunity to comment on each discussion or actionetum on the agenda. Each comment is limited to two minutes. Public comment will be taking both in person and remotely by callin. For each item, the board will take Public Comment from those attending the meeting in person and then those remotely. Comments are opportunities to speak during the Public Comment period are available via phone by calling 4156550001 access code, 26620891628 and and again. When connected you will hear the meeting discussion but be muted and listening mode only. When your item of interest comes up, press star 3 to be added to the speaker line. Best practice are call from a quite location, speak clearly and slowly and turn down your tv or radio. Please note the city policies along with federal state and local law prohibit discriminatory or harassing conduct against City Employees and others during Public Meetings and
Have no closed session today. There is a opportunity to comment on each discussion or actionetum on the agenda. Each comment is limited to two minutes. Public comment will be taking both in person and remotely by callin. For each item, the board will take Public Comment from those attending the meeting in person and then those remotely. Comments are opportunities to speak during the Public Comment period are available via phone by calling 4156550001 access code, 26620891628 and and again. When connected you will hear the meeting discussion but be muted and listening mode only. When your item of interest comes up, press star 3 to be added to the speaker line. Best practice are call from a quite location, speak clearly and slowly and turn down your tv or radio. Please note the city policies along with federal state and local law prohibit discriminatory or harassing conduct against City Employees and others during Public Meetings and will not be tolerated. Moreover, Public Comment is perm